PPP Loan Data — Quality Gold Inc, Fairfield, OH
Quality Gold Inc
Entity: Subchapter S Corporation
Location: Fairfield, OHTweet This • Search All PPP Data
Quality Gold Inc is a subchapter s corporation located at 500 Quality Blvd in Fairfield, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,227,500.00 in April, 2020.
The company has reported itself as a White owned business, and employed at least 359 people during the applicable loan loan period.
$ PPP Loan Information
Lender:PNC BANK, NATIONAL ASSOCIATION
Quality Gold Inc received a Paycheck Protection Loan of $3.23M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.
Based on standard PPP eligibility rules, Quality Gold Inc's total 2019 payroll expenses were approximately $15.49M in order to qualify for the PPP loan amount received.
Based on their reported 359 jobs retained, this equals an estimated average yearly compensation of $43,153 per employee1.
Business Information - Quality Gold Inc in Fairfield, OH
500 Quality Blvd
Fairfield, OH 45014
Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (NAICS code 423940)
Business Owner Demographics
Race / Ethnicity: WHITE
Veteran Status: UnreportedCongressional District: OH-08
Similar Companies near Fairfield
In the Fairfield area, 2 businesses in the "Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 182 employees (compared to this company's 359) and received an average PPP loan of $1,635,354 (compared to this company's $3.23M).
Similar Nearby Businesses Who Received PPP Funding:
4C's Gem Imports Inc
Industry PPP Comparison Statistics
Nationwide, 4,865 businesses in the "Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers" industry received a total of $282,454,264.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.
PPP recipients in this industry report an average of 5 employees, 99% lower than Quality Gold Inc's reported 359 employees, and received an average PPP loan of $58,058, 98% lower than this company's loan of $3.23M.
FederalPay's PPP Information Policy
Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.
All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.
Footnotes & Information
1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.
2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.
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